Hackers infiltrate wallet service and get away with 4,100 Bitcoins worth $1.18 million

An Australian entrepreneur going only by the name TradeFortress responsible for running Bitcoin wallet service Inputs.io claims two hackers recently infiltrated the website and stole roughly 4,100 Bitcoins, or about $1.18 million based on current conversion rates.

From what I gather secure storage of bitcoins is not the same thing as secure transaction. The way it was explained to me is the machines that do all the processing are those that process the transactions. Multiple machines doing the same transactions, and the first one to finish passing the security measures is the one that gets credit (a small commission from the transaction) for the work. But if someone could hack into a bitcoin wallet, they could transfer bitcoins anywhere else as they would have control of the contents of the wallet.

It's an online wallet. You can take precautionary measures to avoid getting your wallet stolen. Instead of trusting your hard earned cash to online wallet, keep them yourself. If you have no idea how to do it, learn and adapt. Personally, at this point in Bitcoin, online wallets are not all that secure. You have no contro

Created in 2008 and valued at around $0.20 in 2010, Bitcoins are now valued at nearly $330 each. In the event you bought in early and often, you?d probably be a millionaire multiple times over at this point.

Bitcoins were not hacked nor were they ever...LOL They are super secure. Where you store your bitcoins are what can be hacked. There are super safe ways to store your bitcoins. They are usually offline the same way you could store your money buried in the yard you could do the same with your bitcoins on a flash drive or as a piece of paper. Blockchain is a safer on-line wallet as the private keys are never stored on the site. You retain those keys and you you can save them to paper or encrypt them to a flash drive or whatever you want. So if the site goes down or away you still have your bitcoins. Coinbase is a online wallet similar inputs.io but they are based in the US and as such couldn't get away by saying oh too bad we last all your money..Coinbase is the best way to buy bitcoins currently in the US. Bitcoins could go to 1 million or drop down to $0. All I know is they have been going up over 5% a day